A small production company known as K&K Productions are currently working on a fan made DragonBall Z live action project. They will be producing a short film that basically highlights the Saiyan saga in trailer form. It is uncertain at this point on if they get enough praise for this project they will continue to a full blown fan film. But for the time being, they are just going to produce a short film by the fans, for the fans. You can actually check out a few of their trailers of behind the scene work and I must say I am already impressed with that they have come up with so far!
Visit their official website for more details! And Hell, if this goes beyond a simple trailer, maybe we can get a much better official DragonBall movie in the future!